Guideline Value for GANGAI NAGAR

Gangai Nagar guideline value

The current guideline value of Gangai Nagar, located in Athur A Block village, is Rs 600 per sq.ft, effective from the 2024 revision. This area falls under the Chengleput Joint II SRO and is classified as Mixed Type - I land.

How the guideline value of Gangai Nagar has changed

Over the years, the guideline value for Gangai Nagar has seen several revisions. The 2007 revision recorded a guideline value of Rs 150 per sq.ft. This figure increased significantly to Rs 600 per sq.ft in the 2012 revision, marking a 300% rise. However, the value then decreased to Rs 402 per sq.ft in the 2017 revision, reflecting a 33% drop. Following this, the 2023 revision maintained the guideline value at Rs 600 per sq.ft, and the same rate continued into the 2024 revision, resulting in no change between these two years.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%.

Guideline values in Athur A Block

Athur A Block contains 44 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 300 to Rs 1,525 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, which aligns with the current figure for Gangai Nagar.

• Golden Lane: Rs 600 per sq.ft (2024)
• Ganapathy Nagar: Rs 600 per sq.ft (2024)
• En Garden: Rs 600 per sq.ft (2024)
• Doctor Avenue: Rs 550 per sq.ft (2024)
• Cynosure Extension Phase - V: Rs 900 per sq.ft (2024)
• Cynosure Extension Phase - IV: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangai Nagar?

The Sub Registrar Office that covers Gangai Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Athur A Block

The guideline value plays a crucial role during the registration of property transactions in Athur A Block. It serves as the basis for calculating the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gangai Nagar?

The current guideline value of Gangai Nagar is Rs 600 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 150 per sq.ft in 2007, increasing to Rs 600 per sq.ft in 2012, then decreasing to Rs 402 per sq.ft in 2017, and finally stabilizing at Rs 600 per sq.ft in 2023 and 2024.

What are the guideline values for other streets in Athur A Block?

Other streets in Athur A Block have varying guideline values. For example, Golden Lane, Ganapathy Nagar, and En Garden all have a guideline value of Rs 600 per sq.ft in 2024.

How is the stamp duty calculated for property in Gangai Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 42,000.

Where can I find the Sub Registrar Office for Gangai Nagar?

The Chengleput Joint II Sub Registrar Office covers Gangai Nagar and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information online.